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Author Topic: Bets of Bitcoin - Bitcoin betting on real world events  (Read 61685 times)
coinjedi
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May 05, 2013, 07:03:52 PM
 #381

Probably made the assumption that the device shipped met the criteria, and thus the outcome known at this point.  I'm presuming what shipped doesn't meet the criteria thus the bet should remain open (as there could be et another product shipped before the deadline that does meet the criteria).

Exactly. The bet should have remained open. coinjedi, any answer on that?

We do not always close bets when the outcome is absolutely certain. For example we close a bet on a product shipping date, when the company announces an official shipping date, but we do not payout until they actually do. We judged that in this case starting of the initial batch releases significant enough information for the purposes of closing the bets. Initial reports tell that the performance does not meet the criteria, so we will wait until the announced event date in case they ship another product.

If you are the submitter and think that our decision is unreasonable, please contact in private and we will reimburse your submission fee. If you would like to continue betting on this event please submit a new statement so that the betting can continue under the new conditions.

Bets of Bitcoin
http://betsofbitco.in/
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420
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May 10, 2013, 12:11:54 AM
 #382

Back to the site's basic service

why are withdrawls disabled?

"Your request can not be completed at this time. We are working hard to fix it. Please, try again later.
Your Bitcoins and data are safe and backed up regularly."

been doing that for days

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May 10, 2013, 12:25:09 AM
 #383

Probably made the assumption that the device shipped met the criteria, and thus the outcome known at this point.  I'm presuming what shipped doesn't meet the criteria thus the bet should remain open (as there could be et another product shipped before the deadline that does meet the criteria).

Exactly. The bet should have remained open. coinjedi, any answer on that?

We do not always close bets when the outcome is absolutely certain. For example we close a bet on a product shipping date, when the company announces an official shipping date, but we do not payout until they actually do. We judged that in this case starting of the initial batch releases significant enough information for the purposes of closing the bets. Initial reports tell that the performance does not meet the criteria, so we will wait until the announced event date in case they ship another product.

If you are the submitter and think that our decision is unreasonable, please contact in private and we will reimburse your submission fee. If you would like to continue betting on this event please submit a new statement so that the betting can continue under the new conditions.

What you missed is that the outcome of the BFL bet is not certain. They seem to be merely 46% off the bet's 350 Mh/J limit (239 Mhash/J at 12V == 191 Mhash/J at the wall) and they are currently working on redesigning the power supply circuitry to make it more efficient...

The fact that the amounts bet on each side did not vary much in the last weeks before you closed it proves my point: bettors were not certain which side was going to win.

Beside, even if the outcome was certain, why are you closing it anyway? Why not let people bet on the side that is "so certain" to win?

I am upset you closed the bet  Angry
coinjedi
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May 13, 2013, 03:06:11 AM
 #384

Back to the site's basic service

why are withdrawls disabled?

"Your request can not be completed at this time. We are working hard to fix it. Please, try again later.
Your Bitcoins and data are safe and backed up regularly."

been doing that for days

Withdrawals are not disabled. We'll check our logs. If the problem persists can you PM me your OS and browser. Thanks for letting us know. Also I can generate a withdrawal for you right away if you want.

Bets of Bitcoin
http://betsofbitco.in/
MPOE-PR
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May 13, 2013, 12:02:03 PM
 #385

The fact that the amounts bet on each side did not vary much in the last weeks before you closed it proves my point: bettors were not certain which side was going to win.

Alternatively it could just be showing that nobody is using the site. Which seems a much saner explanation.

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rlh
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May 13, 2013, 06:21:06 PM
 #386

MinCoin will reach .05 BTC by June 1?

Crazy?  Maybe so. However, I have .10 riding that it will see a huge spike, especially once BTC-e and Vircurex add Mincoins.

A Personal Quote on BTT from 2011:
"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00.  Otherwise I'll just have to live with my 5 BTC and be happy. :/"  ...sigh.  If only I knew.
wonko
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May 22, 2013, 06:52:03 PM
 #387

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?
rlh
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May 22, 2013, 07:23:11 PM
 #388

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

A lot of people have.  It's been around a while.

A Personal Quote on BTT from 2011:
"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00.  Otherwise I'll just have to live with my 5 BTC and be happy. :/"  ...sigh.  If only I knew.
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May 23, 2013, 02:22:01 AM
 #389

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

A lot of people have.  It's been around a while.
yes, absolutely.

420
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May 23, 2013, 10:33:53 PM
 #390

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

dozens

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MPOE-PR
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May 24, 2013, 10:54:23 AM
 #391

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

A lot of people have.  It's been around a while.

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

A lot of people have.  It's been around a while.
yes, absolutely.

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

dozens

No, actually, it's a well known scamsite.

See here.

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rlh
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May 24, 2013, 02:46:45 PM
 #392

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

A lot of people have.  It's been around a while.

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

A lot of people have.  It's been around a while.
yes, absolutely.

Just started using this site, it looks pretty cool! Has anyone here had succesful bets placed, completed, and been paid?

dozens

No, actually, it's a well known scamsite.

See here.

Interesting...

Yes, I had a bet placed on that statement and I would have one if the vote was "didn't ship".  I didn't see the discussion on this forum, but I kind of felt the call was valid.

Had the admin made the call to say "It didn't ship" everyone who voted against it would have been up in arms.

I think the take-away isn't to consider Betsofbitcoin a scam, but to be careful when you bet.  If the statement isn't clear, and EASILY verifiable, don't bet.

At least, that's what I learned from that experience.

A Personal Quote on BTT from 2011:
"I'd be willing to make a moderate "investment" if the value of the BTC went below $2.00.  Otherwise I'll just have to live with my 5 BTC and be happy. :/"  ...sigh.  If only I knew.
MPOE-PR
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May 24, 2013, 07:48:41 PM
 #393

Had the admin made the call to say "It didn't ship" everyone who voted against it would have been up in arms.

I think you might be a little confused. Who's up in arms is immaterial, who's in the right is the only thing that matters. Reality isn't the result of voting, scams are the result of voting.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
dacoinminster
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May 25, 2013, 12:18:29 AM
 #394

Please close this bet:
http://betsofbitco.in/item?id=1205

The decision happened. Gay scouts are allowed, but gay scout leaders are not allowed, so statement evaluates to false.
http://news.yahoo.com/boy-scouts-allow-gay-scouts-leave-ban-gay-001631810.html

Thanks!

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May 26, 2013, 09:25:02 PM
 #395

Had the admin made the call to say "It didn't ship" everyone who voted against it would have been up in arms.

I think you might be a little confused. Who's up in arms is immaterial, who's in the right is the only thing that matters. Reality isn't the result of voting, scams are the result of voting.

I had been using betsofbitco.in for almost two years without an issue, before that decision made me stop using the site altogether.

I wouldn't call it a scam though, just misjudgement under pressure.
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May 27, 2013, 06:31:36 AM
 #396

Had the admin made the call to say "It didn't ship" everyone who voted against it would have been up in arms.

I think you might be a little confused. Who's up in arms is immaterial, who's in the right is the only thing that matters. Reality isn't the result of voting, scams are the result of voting.

What the fuck are you talking about

and spreading libel calling a site hundreds of people use (with no complaints) a scam

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MPOE-PR
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May 27, 2013, 12:00:32 PM
 #397

I had been using betsofbitco.in for almost two years without an issue, before that decision made me stop using the site altogether.

I wouldn't call it a scam though, just misjudgement under pressure.

Misjudgement is the thing for which people apologize. Coinjedi is clearly not either sorry nor of the opinion he did anything wrong. Which I could see, if he's gotten paid for it.

Had the admin made the call to say "It didn't ship" everyone who voted against it would have been up in arms.

I think you might be a little confused. Who's up in arms is immaterial, who's in the right is the only thing that matters. Reality isn't the result of voting, scams are the result of voting.

What the fuck are you talking about

and spreading libel calling a site hundreds of people use (with no complaints) a scam

Read the links, try and keep abreast of the news, get out from under your rock?

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
True___Blue
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June 01, 2013, 12:59:52 PM
 #398

How are winners determined?
There is a bet "waiting" since 1st may.


What bet? Sometimes it helps if you post it here

Financisto
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June 11, 2013, 02:37:28 AM
 #399

The expected (profit) return are not that easy to estimate because of the variables involved.

Isn't there any way to add that estimation of profit at the moment the player is about to bet?

P.s.: I'm just trying to simulate some expected value possibilities...

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June 11, 2013, 04:29:25 AM
 #400

Question for Coinjedi: I'm trying to reconcile all my BTC accounts. I'd like a complete record of all the money that went round with my bets on your site. Under the 'Account' Tab there's a button saying 'Your most recent transactions' which is okay but obviously I want ALL of them not just the most recent. How can I get hold of the older ones?

Thx

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